Thailand’s Indorama signs Abu Dhabi deal

TacaamolIndorama Ventures Plc, a Bangkok-based leading polyester and yarn manufacturer, has signed a joint venture deal with Abu Dhabi National Chemicals Co (Chemaweyaat) to develop an aromatics plant in western Abu Dhabi.

The plant is expected to have capacity to make 1.4 million tonnes of paraxylene and 500,000 tonnes of benzene in a year. Chemaweyaat will hold 51 per cent and Indorama 49 per cent in the joint venture called Abu Dhabi Chemicals Integration Co (Tacaamol).

“This venture with Chemaweyaat represents our maiden entry into the Gulf region,” said IVL chief executive Aloke Lohia.

Chemaweyaat chief executive Ahmed Saeed Al Mheiri said both parties have worked hard to reach this stage and look forward to a continued spirit of cooperation as the project takes shape.

Chemaweyaat was established by decree in November 2008 to develop Abu Dhabi’s domestic chemicals industry further, complementing other units such as Abu Dhabi Polymers Co (Borouge), Ruwais Fertiliser Industries (Fertil) and International Petroleum Investment Co (Ipic). It is jointly owned by Ipic, the Abu Dhabi Investment Council and Abu Dhabi National Oil Co.



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Indorama Ventures Plc, a Bangkok-based leading polyester and yarn manufacturer, has signed a joint venture deal with Abu Dhabi National Chemicals Co (Chemaweyaat) to develop an aromatics plant in western Abu Dhabi. The plant is expected to have capacity to make 1.4 million tonnes of paraxylene and 500,000 tonnes of benzene in a year. Chemaweyaat will hold 51 per cent and Indorama 49 per cent in the joint venture called Abu Dhabi Chemicals Integration Co (Tacaamol). "This venture with Chemaweyaat represents our maiden entry into the Gulf region," said IVL chief executive Aloke Lohia. Chemaweyaat chief executive Ahmed Saeed Al...

TacaamolIndorama Ventures Plc, a Bangkok-based leading polyester and yarn manufacturer, has signed a joint venture deal with Abu Dhabi National Chemicals Co (Chemaweyaat) to develop an aromatics plant in western Abu Dhabi.

The plant is expected to have capacity to make 1.4 million tonnes of paraxylene and 500,000 tonnes of benzene in a year. Chemaweyaat will hold 51 per cent and Indorama 49 per cent in the joint venture called Abu Dhabi Chemicals Integration Co (Tacaamol).

“This venture with Chemaweyaat represents our maiden entry into the Gulf region,” said IVL chief executive Aloke Lohia.

Chemaweyaat chief executive Ahmed Saeed Al Mheiri said both parties have worked hard to reach this stage and look forward to a continued spirit of cooperation as the project takes shape.

Chemaweyaat was established by decree in November 2008 to develop Abu Dhabi’s domestic chemicals industry further, complementing other units such as Abu Dhabi Polymers Co (Borouge), Ruwais Fertiliser Industries (Fertil) and International Petroleum Investment Co (Ipic). It is jointly owned by Ipic, the Abu Dhabi Investment Council and Abu Dhabi National Oil Co.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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